Will the income tax (I-T), Mumbai circle this year be able to match at least last year's collection figure? This is the prime question doing the rounds in the department even as the second round of agitation by I-T officials completed two weeks. The department in Mumbai has a tax collection target of Rs 2.04 lakh crore that has to be met by March-end. However, the agitation has severely affected searches and surveys has slowed down tax collection because the protesting officials are not taking part in the searches. "If we at least match last financial year's collection of Rs1.53 lakh crore, it would be a saving grace for us," a senior I-T official said requesting anonymity because he is not authorised to speak to the media. To achieve the present target (Rs 2.04 lakh crore) the department still needs to collect around Rs 85,000 crore. Though officials were already expecting a shortfall because of slow growth in the economy, the agitation has further marred their hopes.
Source: Hindustan Times
No comments:
Post a Comment